There are more buyers out there for your company than you might think. Ranking potential buyers from most to least logical requires an assessment of how each of the following characteristics applies to a particular buyer:

· Potential synergistic benefits of your business if they currently own a related business· Capital / financing available to close the transaction· Experience in completing acquisitions· Previous knowledge of, or involvement with, the company / industry· Geographical proximity

It is at this point that it is time to make the first critical decision. How broadly should you market your company? A wide offering distribution increases the probability of achieving the best price, but also increases the likelihood of damaging your company by releasing sensitive business information to a wide range of people.

Your competitors may be the ‘best’ buyers, but they are also the ones who could inflict the most harm on your business if they are privy to confidential information. Because this decision sets the stage for the marketing process, we will address the advantages and disadvantages of narrow versus wide distribution in more detail in the coming weeks.​